CDL Insurance for New Drivers
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Carl S | Baltimore, MD
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What You Need to Know About CDL Insurance
If you love driving and don’t mind the long hours associated with commercial driving, then it can be a great career. To become a commercial truck driver, you need to get your CDL (Commercial Driver’s License) by passing some written and road tests. And, once you meet these basic requirements, you can get a job as a truck driver.
CDL Insurance FAQ’s
What’s Typically Included in the Coverage
What’s Typically Included in the Coverage
Typically, truck insurance for new drivers covers the following:
Liability Insurance – This pays for any damage that occurs to other’s property caused by you and a limit of up to $1,000,000 is required.
Physical Damage – This covers any damage that occurs to your truck and this coverage has 2 components:
Comprehensive Coverage – This covers any damage which occurs outside any collisions including vandalism, theft, damage caused by the weather, animals, etc.
Collision Coverage – Covers any damage caused due to an accident caused by a collision.
Cargo Insurance – This insurance covers any damage caused to the goods being carried in the trailer and most of the motor carriers and companies require the trucker to carry cargo insurance for any type of goods they carry.
Non-Trucking Liability or Bobtail Insurance – This essentially covers the tractor when it is not connected to the trailer.
Loading and Unloading – The cargo insurance usually does not cover the good while being loaded onto the trailer and the loading/unloading coverage covers this gap.
Debris Removal – In case of an accident, if the cargo is spilled, this coverage pays for the removal of the debris.
Combined Deductible – If there is a major accident, you will have to pay the deductible of all the individual coverages. However, if you have a combined deductible coverage, you only will be required to pay a single amount.
Earned Freight – In the case of an accident or if any shipment is not delivered, then the earned freight insurance pays back any income that you have lost.
Loss Mitigation – Any loss that you incur after an accident is covered by the loss mitigation insurance.
New Driver Insurance Discounts
- Many insurance companies offer discounts to new drivers who have completed the driver’s education course. By taking an education course for drivers, you can save money.
- A very easy way by which you can reduce your insurance cost is to practice safe driving methods i.e. stopping at signs, using proper signals to turn, checking blind spots, practicing proper usage of lanes and obeying the speed limits.
- Equipping your truck with accessories such as airbags, GPS, anti-lock brakes, anti-theft system etc. can qualify you for discounts.
- Paying the entire amount of your insurance premium upfront can get you discounts up to 15%.
- Your insurance company may offer you a discount if you pay your insurance premium by electronic transfer.
- Having a written plan for the maintenance of your truck can get you a discount of up to 5%.
Although as a new driver getting a CDL insurance may be a little difficult or expensive, firing the right CDL truck insurance agents can help you find the best insurance suitable for your requirements.
How Can I Save Money on CDL Insurance?
As a new driver, it may quite difficult for you to find a CDL insurance coverage. If you have less than 2 years of CDL experience, it may be difficult for you to find an insurance and get the best price. Most of the trucking insurance companies may simply refuse truck insurance for new drivers with just a few years of having driving experience of a commercial vehicle or you may find that companies offering insurance to new drivers offer them at very inflated prices. Typically, new truck drivers pay around 2-3 times more truck insurance compared to experienced drivers.
However, you can save money on your CDL insurance by:
- Maintaining a clean driving record.
- Applying for discounts.
- Many insurance companies look at your credit score before giving your insurance, as it has been found that there is a correlation between credit scores and the probability of future claims. Try and bring up your credit score as this can help you qualify for the best rates.
- Once you get your insurance, it is a good idea to check again after a year, as you may qualify for lower rates and reduced premiums.
- Try and keep your SAFER scores clean, as being a safe driver can help to lower your insurance rates. Any “out of services” violations may result in higher premiums.
- Shopping around and checking with 2-3 commercial truck insurance companies who offer CDL insurance for new drivers. You can compare the offers of various companies and decide on the one that is cheapest and best for you.